Determine the cost per equivalent unit of direct material

Assignment Help Accounting Basics
Reference no: EM133115960

Question - Atlantis Company, on March 1, 2021 has a beginning Work in Process inventory of zero. All materials are added into production at the beginning of its production. There is only one production WIP inventory. During the month 80,000 units were started. At the end of the month all started units were 70% complete with respect to conversion. Direct Materials placed into production had a total cost of $32,000 and the total conversion cost for the month was $16,000. Atlantis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of direct material for the month of March. Round and enter final answers to the nearest cent.

Reference no: EM133115960

Questions Cloud

Future value of cash flow pattern : You have been offered the opportunity to invest in a project that will pay $1,340 per year at the end of years one through three and $9,062 per year at the end
Determine the accumulated amount in the account : Determine the accumulated amount in the account after 7 years if a withdrawal of P10,000.00 and P25,000 was made in the 4th and 6th year, respectively
Patagonia distribute all apparel and food products : How can Patagonia distribute all apparel and food products in packaging that is reusable, biodegradable, renewable, or easily recyclable by 2025?
Discussing several applications of artificial intelligence : Discussing several applications of artificial intelligence, machine learning and data science and Compare and contrast different approaches
Determine the cost per equivalent unit of direct material : Atlantis uses the weighted-average process costing method. Use this information to determine the cost per equivalent unit of direct material
Discuss about the saudi nomu-parallel market : 1. Discuss about the Saudi Nomu-Parallel Market? 2. Explain All types of payment systems offered by SAMA?
What is the maximum sales commission : What is the maximum sales commission it can pay (as percentage of sales revenue) in order to be no worse off in terms of its current profitability
Financial market performance-future outlook : Analyze the present and historical performance of your country's financial markets -- both equity and debt markets (if relevant). While considering its performa
Employment law and elements of criminal law : Your discussion should involve elements of employment law and elements of criminal law.

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the total cost that Morocco Ltd will incur

What is the total cost that Morocco Ltd. will incur in the scenario of pledging these accounts receivable as a security for a loan

  Compute the amount that sanchez company has to pay

Compute the amount that Sanchez Company has to pay to the seller for the goods

  How much cost should have been assigned to the units

durall company manufactures a plastic gasket that is used in automobile engines. the gaskets go through three

  Prepare a memo detailing appropriate treatment of this issue

Tri-Axis Corporation manufactures aircraft components. Prepare a memo detailing appropriate treatment of this issue and citing specific paragraph numbers

  Prepare journal entries to record the collection

Kent Ltd, whose $1,300 account had been written off as uncollectable in June, paid its account in full. Prepare journal entries to record the collection

  How much is the impairment loss to be recognized on december

How much is the impairment loss to be recognized on December 31, 2019? How much should be recognized as interest income for 2020?

  Illustrate the journal entry to dispose of any variances

Using T-accounts, illustrate the journal entry to dispose of any variances (close to Cost of Goods Sold). Compute labor variances.

  What is the after-tax income

Question - Hank, a calendar-year taxpayer, uses the cash method of accounting for his sole proprietorship. What is the after-tax income

  How much of usco gross profit to the canadian subsidiary

How much of USco's gross profit of $2 million on sales to the Canadian subsidiary is classified as foreign source for U.S. tax purposes

  Computer licensing rights were purchased this year

Computer licensing rights were purchased this year on January 1 for $66,000. The rights are expected to have a six-year useful life to the company

  Contrast the rules regarding revenue recognition under ifrs

In what ways does the format of a statement of financial or position under IFRS often differ from a balance sheet presented under GAAP?

  What is the amount of owners equity at December

The business had owner's drawings of $6,200. What is the amount of owner's equity at December 31, 2020, if the beginning balance was $-0-

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd